Business

Bank-to-bank forex deals resume

Bank-to-bank forex deals resume

Banks can now directly sell foreign exchange (forex) to one another, without prior Central Bank of Nigeria (CBN) approval, according to The Nation. »

EFCC to seize Diezani’s, Aluko’s Dubai mansions

EFCC to seize Diezani’s, Aluko’s Dubai mansions

Barely 48 hours after the US Department of Justice released details of how part of the $1.5billion oil production contracts funds were laundered, the Economic and Financial Crimes Commission (EFCC) is set to seize a mansion belonging to one of the suspects, Kola Aluko, in Dubai, United Arab Emirates (UAE). »

Etisalat Pulls Out Of Nigeria, Issues Ultimatum For Name Change

Etisalat Pulls Out Of Nigeria, Issues Ultimatum For Name Change

Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed. »

A B+ rating is usually the lowest investment grade rating assigned to a security which signifies Read more at: http://www.vanguardngr.com/2017/02/fitch-rates-nigerias-upcoming-eurobond-b/

Fitch Rates Nigeria’s Upcoming Eurobound B+

Fitch Rates Nigeria’s Upcoming 1 Billion Eurobound B+ According to Fitch Ratings, Monday, Nigeria’s upcoming $1 billion Eurobond is B+ which is the lowest investment grade rating. This grade means that Nigeria’s economy is faulty and therefore would have to pay a higher premium. Paying a higher premium for bond issue is the only way for investors to invest. According to a report from T... »